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National Bank of Greece SA seals $880 million property deal - Reuters

Monday, 25 Nov 2013 12:56pm EST 

National Bank of Greece SA:Says it has agreed to sell a majority stake in its real estate arm Pangaia to private equity firm Invel Real Estate in a euro 653 million ($882 million) deal - Reuters.Says the sale, is part of a restructuring by the company aimed at boosting its capital base.Says the terms of the latest deal Invel will acquire 66 percent of Pangaia.Says Invel pay 161 million in cash, contribute equity in the form of real estate and also take out a loan from company.